Bitfury Group may soon start analyzing big data through its artificial intelligence division.
In an interview
The firm’s co-founder and CEO, Valery Vavilov, told Reuters that Bitfury has created an artificial intelligence (AI) division to explore big data and benefit from it. Calling the data “the next oil,” Vavilov said that 98% of all data is simply waiting for analysis.
Although he did not disclose specific information about the company’s plans, Vavilov noted that blockchain will be used in data analysis.
“We also need to trust this data, so we plan to use blockchain,” Vavilov said.
According to Vavilov, the Bitfury AI division is currently in “research mode”, and a clearer idea of possible options for its use and products will appear by the end of the year or at the beginning of 2020.
The new division will be headed by Fabrizio Del Maffeo, former vice president and managing director of AAEON Technology Europe, a firm that specializes in artificial intelligence and IoT within the ASUS group.
In April, the Bitfury institutional mining fund received the
approval of the EU regulator, and earlier the company was included in the list of billionaire companies implementing blockchain compiled by Forbes.